Happy living with mobile phones - letter
The Sunday Times FT’s editorial headlined “Cars, Mobiles and Inflation” on July 29 was very interesting. The Central Bank is under the impression that people have money, are happy and contended since the sale of cars, motorcycles and mobile phones have gone up. But your article has cleverly down played the argument.
I compare the Central Bank to the Nutrition/Diet Specialist who was not aware that there were poor people going hungry and skipping meals due to poverty. The story goes like this: This specialist who was very rich moved around always in his chauffer-driven limousine, and never came across beggars. It so happened this specialist was walking when a beggar approached him and said, “Sir, I have not had a meal for days”. He was indirectly asking for money.
The specialist instead of giving the poor man some money, said “Man, never wait without eating, its bad for your health. I advise you to have your meals immediately”.
The Central Bank is like this specialist forgetting that there is a large segment of poor people who can’t afford a proper meal.
Does the Central Bank know that due to economic constraints, insufficient money in the hands of people and inflation, many families have cut their food budget? Most people don’t eat what they should be eating. Many have cut down on protein foods like fish, meat, poultry, eggs, milk, etc which are the most expensive. This is a dangerous trend. Even the little leisure and entertainment that people enjoyed has stopped. They have no money for these extra activities. I believe many people are withdrawing their hard-earned savings from banks to pay the bills.
If one were to visit to an ordinary grocery shop, one could see that many food items and other necessities come in sachets. Most of these sachets are priced at Rs. 5.
Ask the grocer and he will tell you these are selling fast. Why? Because no one has money to buy bigger packets.